multiple listing service - Investment & Finance Definition

A system that shows all the houses available for sale
in a certain area. Multiple listing services help buyers because they quickly
show what property is available in a specific area and at what price ranges. If
a real estate agent other than the one who listed the property for sale ends up
selling it, then both agents split the commission. Although the amount of the
listing agent’s commission decreases in such a sale, the system effectively
increases the agent’s chances of selling a property and thereby earning at
least a partial commission.